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Supporting US Students through Student Loans and Financial Aid Programs

United States has been a model when it comes to its educational system. Education is very important that is why the government is thinking of any ways to help American students. In order to give help to every student, the government offers federal student loans to students who seek aid in financial support. Federal student loan is common in United States especially for students who can’t afford to sustain their education because of financial incapability. Federal Loan is also another option for students who prefer to have a cheaper interest rate compared to choosing private loans. But aside from federal student loan there are other alternatives for students that the US government offers and these are Financial Aid programs. Financial Aid Programs are financial assistance for students in their expenses such as tuition fees, boarding, books, school supplies and everyday expenditure. Students who are enrolled in eligible programs in participating schools can avail these programs. The three common financial aid programs are the following:

• Federal Supplemental Educational Opportunity Grant commonly known as FSEOG. This is a federal aid for students who have a greater need for financial assistance. FSEOG is a program in which the federal student aid provides funds to schools and in return offer grant to students.
• Federal Work Study is a program offered to graduate and undergraduate students who need financial assistance. Through this program the students are allowed to work part time and being paid for the training. Students are encouraged to work in community services like environmental organizations who promote the usage of panneaux photovoltaiques to help save the environment and save energy or they can choose what kind of work they like that is related to their course. Students are paid for their work and their earning will proceed to their educational expenses.
• Federal Perkins Loans is offered by US Department of education to assist American students in funding their education. The Perkins Loan has a fixed rate of 5 % and a ten year repayment period. The program is also offered to both graduate and undergraduate students. This loan is subsidized by the government thus the interest only begins when the borrower start to pay the loan.

Student loans, grants, and scholarships are the helping hand of students when it comes to financial assistance. These programs are designed to help students finish their studies and find a successful career in the future.

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